Avitas Wealth Management LLC Has $454,000 Holdings in Spotify Technology S.A. (NYSE:SPOT)

Avitas Wealth Management LLC cut its stake in Spotify Technology S.A. (NYSE:SPOT) by 6.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,233 shares of the company’s stock after selling 87 shares during the period. Avitas Wealth Management LLC’s holdings in Spotify Technology were worth $454,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Transcendent Capital Group LLC acquired a new position in shares of Spotify Technology in the 2nd quarter worth approximately $25,000. Benjamin Edwards Inc. raised its holdings in shares of Spotify Technology by 214.8% in the 2nd quarter. Benjamin Edwards Inc. now owns 85 shares of the company’s stock worth $27,000 after buying an additional 58 shares in the last quarter. Larson Financial Group LLC raised its holdings in shares of Spotify Technology by 86.0% in the 1st quarter. Larson Financial Group LLC now owns 93 shares of the company’s stock worth $25,000 after buying an additional 43 shares in the last quarter. Mather Group LLC. raised its holdings in shares of Spotify Technology by 9,900.0% in the 2nd quarter. Mather Group LLC. now owns 100 shares of the company’s stock worth $31,000 after buying an additional 99 shares in the last quarter. Finally, V Square Quantitative Management LLC acquired a new stake in Spotify Technology during the 3rd quarter valued at $40,000. 84.09% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms recently weighed in on SPOT. Jefferies Financial Group reaffirmed a “buy” rating and set a $385.00 price target (up from $242.00) on shares of Spotify Technology in a report on Thursday, July 11th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $340.00 price target on shares of Spotify Technology in a report on Monday, October 7th. Evercore ISI raised their price target on Spotify Technology from $420.00 to $460.00 and gave the company an “outperform” rating in a report on Thursday, August 29th. JPMorgan Chase & Co. raised their price target on Spotify Technology from $375.00 to $425.00 and gave the company an “overweight” rating in a report on Wednesday, July 24th. Finally, TD Cowen raised their price target on Spotify Technology from $273.00 to $356.00 and gave the company a “hold” rating in a report on Wednesday, July 24th. One analyst has rated the stock with a sell rating, five have given a hold rating and twenty-two have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $376.21.

Spotify Technology Trading Up 0.6 %

Spotify Technology stock opened at $393.73 on Thursday. Spotify Technology S.A. has a 52 week low of $161.39 and a 52 week high of $397.20. The stock has a market capitalization of $74.89 billion, a P/E ratio of -587.66 and a beta of 1.58. The stock has a 50-day simple moving average of $359.73 and a 200 day simple moving average of $327.72. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.56 and a current ratio of 1.56.

About Spotify Technology

Spotify Technology SA, together with its subsidiaries, provides audio streaming subscription services worldwide. It operates through two segments, Premium and Ad-Supported. The Premium segment offers unlimited online and offline streaming access to its catalog of music and podcasts without commercial breaks to its subscribers.